Sheldon Lang Acquires Multifamily Property In Midwood For $3.25M
SOLD
$3,250,000
New York
See Similar DealsMultiFamily18,224 SF
Sold 06/13/2023
SOLD
Sheldon Lang Acquires Multifamily Property In Midwood For $3.25M
1113 Avenue O Brooklyn, NY 11230, USA
See Similar DealsMultiFamily18,224 SF
Sold 06/13/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$178
Total Square Footage:18,224 SF
Transaction Type:Sale
A multifamily property located at 1113 Avenue O in Midwood has been sold for a total of $3,250,000. The property consists of 23 units, with an average price per unit of $141,304. The total square footage of the property is 18,224, and the price per square foot is $178.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,250,000
- Units: 23
- Price per Unit: $141,304
- Square Footage: 18,224
- Price per Square Foot: $178
Sheldon Lang has purchased the property from Karen Fernande and Jimmy Rey Rodriguez. Matthew Sparks and Moshe Goldberger from GFI Realty Services represented both the buyer and the seller in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$173,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,546.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,406.66
Annual Debt Service$184,879.90
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